It’s no wonder that restaurant franchising is so popular — franchisees buy into a proven business model with built-in branding, training and production methods, and (hopefully) a solid customer base. While restaurant franchising helps bypass many of the struggles that come with developing a new business from scratch, it’s not without its own set of …
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Franchisees, or owners that are allowed to operate one of these restaurants, will need to have a lot of upfront capital to own a franchise. For example, if you want to own a franchise of your own, the following is the average cost for owning one of the following: You’ll need to have the initial …
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The purchase of a franchise – any franchise presents itself with both advantages and disadvantages. Many of these so called “advantages” and “disadvantages” are similar between different types of franchises. However‚ when dealing with the purchase of a “restaurant” franchise‚ prospective franchisees must be aware of unique factors particular to the restaurant industry. Some factors that prospective …
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In 2024, it’s becoming harder than ever to be a successful franchisee. On top of ongoing rising food costs and labor shortages, federal and local legislation is cracking down on businesses while expanding worker rights and protections. This year, 25 states introduced or will introduce new minimum wages, with six states increasing their minimum wages …
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Restaurants, as with any other commercial real estate consideration, depend on location as the primary driver for investment. Finding the right spot takes time, effort and due diligence to make sure you’ll be in compliance with what the local zoning law will permit. Determining the optimum setting for your restaurant location will set the terms and parameters …
Read more “Why Restaurants Depend on Location, Location, Location”